Simpson Thacher Represents Goldman Sachs as Financial Advisor to Micron Technology in its Acquisition of Elpida Memory

Simpson Thacher represented Goldman Sachs as financial advisor to Micron Technology Inc. in connection with its execution of a sponsor agreement with the reorganization trustees of Elpida Memory Inc. of Japan, whereby Micron agreed to acquire Elpida, including Elpida’s 65% stake in Rexchip Electronics, for total consideration of ¥200 billion ($2.5 billion), consisting of ¥60 billion in cash consideration for 100% of Elpida’s equity and a series of installment payments totaling ¥140 billion to be made by Elpida to satisfy the reorganization claims of Elpida’s creditors. Micron also entered into a separate agreement with Powerchip Technology Corporation to acquire its 24% stake in Rexchip Electronics for approximately NT$10 billion ($334 million).

The Simpson Thacher team includes David Sneider and Sayo Kondo.

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